INSURANCE NEWS
People Moves: Caffrey to Become CEO of White Mountains in 2026
White Mountains Insurance Group said today that its Board of Directors unanimously promoted Liam Caffrey as chief executive officer, effective January 1, 2026. Caffrey will succeed CEO Manning Rountree, who will retire at the end of the year. Caffrey currently …
Markets/Coverages: Willis Launches Specialty Bloodstock Insurance Solution in UK
Willis, a business of WTW, has launched the first specialty bloodstock insurance solution with Equine MediRecord to make the purchasing of bloodstock insurance more accessible and efficient for horse owners and trainers in the UK. Willis have signed a deal …
Tesla Asks Court to Throw Out $243M Award; Says Comments About Musk Misled Jury
The car company run by Elon Musk asked a federal court Friday to dismiss massive damages awarded to victims of a deadly crash, arguing that their lawyers had misled the jury by improperly bringing up the billionaire during the trial. …
Delaware Governor Vetoes Bill to Loosen Marijuana Zoning Regulations
Gov. Matt Meyer vetoed a bill last Thursday that would have loosened regulations around where marijuana businesses can locate in Delaware, likely further delaying the growth of the weeks-old industry. But the governor also offered a competing proposal on such …
Cyberattack on Evertec’s Sinqia Hits HSBC, Others in Brazil
Hackers on Friday broke into Sinqia, a financial technology provider owned by Evertec, attempting to steal around 420 million reais ($77.4 million) from several Brazilian financial institutions including HSBC Holdings Plc’s local operations, O Globo reported. Cyber criminals invaded Sinqia’s …
DHS Secretary Noem Fires Two Dozen at FEMA Citing Cyber Lapses
Homeland Security Secretary Kristi Noem announced that she fired two dozen employees from the Federal Emergency Management Agency after a review determined significant flaws had allowed a hacker to access to FEMA’s network. The employees “brazenly neglected basic security protocols,” …
New Jersey Seeks Limits on Nonessential Helicopter Flights Citing Fatal NY Crash
New Jersey’s governor is asking federal officials to impose restrictions on nonessential helicopter flights in his state after a New York City sightseeing helicopter broke apart in midair in April, killing six people. Gov. Phil Murphy, in an Aug. 18 …
WhatsApp Finds New Hacking Campaign Targeting Fewer Than 200 People
WhatsApp said Aug. 29 it discovered an advanced cyberespionage effort that took advantage of a chain of security vulnerabilities in the app and Apple devices to hack them. A researcher with Amnesty International said unidentified members of civic groups appeared …
Sedgwick: Recalled Products in US Hit Lowest Quarterly Level in 3 Years
The number of products recalled across the U.S. in the second quarter fell 31.5% from 125.37 million units in the first quarter to 85.87 million in Q2, a new report shows. This level marked the lowest quarterly total since the …
Most Trump Tariffs Are Not Legal, US Appeals Court Rules
A divided U.S. appeals court ruled on Friday that most of Donald Trump’s tariffs are illegal, undercutting the Republican president’s use of the levies as a key international economic policy tool. The court allowed the tariffs to remain in place …
Florida Appeals Court Underscores That Limits on Attorney Fees Are Not Retroactive
A Florida appeals court has put another nail in the idea that the state’s limits on attorney fees can be applied retroactively to policies issued before the landmark legislative changes were enacted in 2022 and 2023, despite arguments to the …
Private Equity Firm Bain Capital to Buy UK Insurance Intermediary Jensten Group
Bain Capital, the private investment firm, announced it has signed a definitive agreement to acquire Jensten Group, the UK-based commercial insurance distribution platform, from Livingbridge, a UK mid-market private equity investor. The investment is being made by the dedicated insurance …